Bank Error in My Favor!...need advice please

[FBodyGuy]

What is the name of your state?
Illinois

A friend of mine went to the bank to complete two transactions:

1) Withdraw $300 from her checking account, and that was successful.

2) After that transaction was complete, she took $500 out of her
wallet (all in 20's), to exchange for (5) "one Hundred" dollars bills.

The bank teller gave her in exchange, $1000 dollars (all in "One Hundred" dollar bills)....$500 too much.

Keep in mind these are two separate transactions.
Is it OK legally for her to keep the money?

Thanks in advance for any advice.

[seniorjudge]

Originally Posted by FBodyGuy

What is the name of your state?
Illinois

A friend of mine went to the bank to complete two transactions:

1) Withdraw $300 from her checking account, and that was successful.

2) After that transaction was complete, she took $500 out of her
wallet (all in 20's), to exchange for (5) "one Hundred" dollars bills.

The bank teller gave her in exchange, $1000 dollars (all in "One Hundred" dollar bills)....$500 too much.

Keep in mind these are two separate transactions.
Is it OK legally for her to keep the money?

Thanks in advance for any advice.

Q: Is it OK legally for her to keep the money?

A: Taking or keeping property that is not yours is theft or stealing. You could go to prison.

[FBodyGuy]

Originally Posted by seniorjudge

Q: Is it OK legally for her to keep the money?

A: Taking or keeping property that is not yours is theft or stealing. You could go to prison.

I told her to wait it out and see if the bank attempts to call her. Would this be OK to do?

Is there an amount of time of that can pass before it becomes hers?

[Zigner]

Put this in a personal perstpective...
If this transaction would have involved you and your girlfriend (with you taking the place of the bank), then what do you think the "right" thing to do would be?

[Happy Trails]

Originally Posted by FBodyGuy

I told her to wait it out and see if the bank attempts to call her. Would this be OK to do?

Is there an amount of time of that can pass before it becomes hers?

They are going to catch the error.

It isn't right that she keep the money. How would she of handled it if they had shorted her?

Greed makes people do stupid things.

[FBodyGuy]

Originally Posted by Zigner

Put this in a personal perstpective...
If this transaction would have involved you and your girlfriend (with you taking the place of the bank), then what do you think the "right" thing to do would be?

Yes I see your point.

But let's view the situation as it is...not personal. All morals aside...can she keep it?

[averad]

Think about the teller who now has to explain why her station is $500 short.

[FBodyGuy]

Originally Posted by Happy Trails

They are going to catch the error.

It isn't right that she keep the money. How would she of handled it if they had shorted her?

Greed makes people do stupid things.

Another friend of mine who used to work at bank says that in cases where the bank makes an error in the BANK's FAVOR, then they are not responsible.

Say John Smith drives up to a bank, withdrwals 400, takes the white enveople home, and sees 200 inside. The bank does not owe the $200.

SO I WAS TOLD ^^^^^

[Happy Trails]

Originally Posted by FBodyGuy

Another friend of mine who used to work at bank says that in cases where the bank makes an error in the BANK's FAVOR, then they are not responsible.

Say John Smith drives up to a bank, withdrwals 400, takes the white enveople home, and sees 200 inside. The bank does not owe the $200.

SO I WAS TOLD ^^^^^

Well yeah, think about it. That is why you are suppose to count the money before you leave. She did count the money didn't she?

[justalayman]

Originally Posted by FBodyGuy

Another friend of mine who used to work at bank says that in cases where the bank makes an error in the BANK's FAVOR, then they are not responsible.

Say John Smith drives up to a bank, withdrwals 400, takes the white enveople home, and sees 200 inside. The bank does not owe the $200.

SO I WAS TOLD ^^^^^

And who told you this.

A bank requires their tellers to be neither over OR short. The can/will fire a teller if either happens. The desire all transactions to be correct.

If the teller had shorted you $500, it would show up in the tellers drawer. If You returned to the bank and told them you were shorted the money and it was born out at the end of the business shift for the teller you were assisted by, the money would be returned to you.

[Blue Meanie]

Originally Posted by FBodyGuy

Another friend of mine who used to work at bank says that in cases where the bank makes an error in the BANK's FAVOR, then they are not responsible.

Say John Smith drives up to a bank, withdrwals 400, takes the white enveople home, and sees 200 inside. The bank does not owe the $200.

SO I WAS TOLD ^^^^^

You were told wrong...at the end of the day when the teller balances his or her drawer they would have an extra 200.00....and they would attempt to find the customer to whom the money belongs....and that isn't hard....chances are the customer know they were shorted the money and lets the bank know...

[ENASNI]

[url]http://forum.freeadvice.com/showthread.php?t=260563&highlight=Bank[/url]

[url]http://forum.freeadvice.com/showthread.php?t=259255&highlight=Bank[/url]

I Just wanted to post some similar threads so in case this person can't sleep tonight because they kept the money, they will know there are other immoral dishonest people like them in the world that need a FreeLegal Advice board to tell them what is right.


And yet they still don't believe it.

I wish Veronica1228 were here to lend her Professional advice, but I guess this poster does not want to hear it anyway.

[Zigner]

Originally Posted by FBodyGuy

Yes I see your point.

But let's view the situation as it is...not personal. All morals aside...can she keep it?

No - well, not for long

[Veronica1228]

Originally Posted by ENASNI

I wish Veronica1228 were here to lend her Professional advice, but I guess this poster does not want to hear it anyway.

Here I am!

However, I can't add much.

To the OP, it is true that a teller's drawer is expected to balance to the penny at the end of the business day. If it is over or under, the teller supervisor may audit the drawer to find out where the discrepancy is from or they may send their teller tape, cash in and out tickets, and even video tape to either the Adjustments department or to a Teller Balancing department. One way or another the difference will be located and the customers acccount will be adjusted accordingly.

Your friend will not be given any notice either, so I hope she has enough money in her account to cover the $500 debit that will be coming out along with funds to cover any outstanding checks. Otherwise, she will be overdrawn and she'll start to get charged up to $30 per overdraft.

Since you and your friend appear to be so crooked, I kind of hope this happens. Keep the money. You'll just end up giving it back twice over anyway.

[Ladynred]

Is it OK legally for her to keep the money?

Un-FRIGGIN'-Believable that you would even ask such a ridiculous question

Apparently your parents never taught you the difference between right and wrong**************....